Rotterdam’s total conventional bunker fuel sales surged amid higher HSFO sales in the first quarter of 2024.
Marine Distillates
Total sales of marine distillates, which include marine gas oil (MGO) and marine diesel oil (MDO), increased by 6% to 383,000 mt in the first quarter of 2024. Marine distillate sales were at their highest since the second quarter of 2023.
Marine Fuel Oil
Total sales of marine fuel oil, which includes VLSFO, HSFO, and ULSFO, increased by 12% from the previous quarter to 1.7 million mt. Marine fuel oil sales were still 17% lower compared to 2 million mt sold in the first quarter of 2023.
HSFO replaced VLSFO to become the most sought-after grade in the first quarter. Around 818,000 mt of HSFO were sold in the first quarter of 2024, up by 27% from the previous quarter and also the highest since the second quarter of 2023.
Steady Sales
VLSFO sales were largely steady in the first quarter of 2024. At 681,000 mt, VLSFO sales were still far off the recent peak sales of 1.02 million mt recorded in the fourth quarter of 2022.
Rotterdam’s total conventional bunker sales in the first quarter of this year were about 17% lower compared to the first quarter of 2023.
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Source: ENGINE
